Weekly Forex Updates: MIG Bank, FXStat, Tradesmarter, Thomson Reuters, CME, GO Markets and more

MIG BANK Adds Online CFDs Trading to its Product Portfolio Further to the recent acquisition of the Securities Dealer License,

  • MIG BANK Adds Online CFDs Trading to its Product Portfolio

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Further to the recent acquisition of the Securities Dealer License, MIG BANK is proud to announce that CFDs trading is now available to all of their clients.

Hisham Mansour, CEO of MIG BANK, was quoted in response to the announcement: “As an increasing number of our clients are looking for diversification of their investment portfolios, and as Contracts For Differences (CFDs) are becoming increasingly popular with investors, we have decided to address this in our product portfolio.” Mr. Mansour goes on to explain: “Our clients can now enter new financial asset classes through one trading platform and trade currencies, bullions, major stock indices and commodities with more commodities and equities in the pipeline”.


  • Ex-Societe Generale Forex Trader Stole Trade Secrets: Suit

Societe Generale SA on Tuesday filed a suit in New York accusing a former forex trader of breaching his employment contract by taking privileged data and trade secrets to make himself an attractive candidate for a job at Credit Agricole SA. Societe Generale is seeking the court to force former junior salesperson Karma Tenzing to immediately hand over trade secrets he had allegedly taken and abide by his employment agreement.


  • FXStat launches Auto Trading (Mirror Trading & Market Leaders)

FxStat auto trading will transform successful traders with profitable and verified real accounts from FxStat social trading network into signal providers, enabling other traders from the FxStat platform to automaticly mirror their trades with full control over their account.  What is the requirement to become a signal provider? First and most important of all, you need to have a real trading account with real money that you connect with your FxStat account and to prove that you can have a good performance. To qualify for this programme you need:

    1. Minimum of 10-15% annual return on investment in your Forex account.
    2. Verified real account
    3. Profitable performance during the minimum last 90 days with risk adjusted performance
    4. Average pip/trade over 5
    5. Stop loss set for each trade
    6. Due diligence on trading discipline and style

Once traders applied for this program and meet the requirements, their name will be published on FxStat auto trading list of providers and others can start following them.


  • Tradesmarter Launches the First Regulated Binary Options Affiliate Program.

Tradesmarter is now offering affiliates the highest Revenue Share and CPA plan in the industry with the most advanced marketing tools. This month only, affiliates that refer more than 50 clients will receive an extra $50 per client.

Regulated Binary Options platform Tradesmarter launches its new Binary Options Affiliate Program and proprietary affiliate software, attracting online marketers world wide. Tradesmarter’s affiliate program offers profitable returns for traffic directed to Tradesmarter.com as well as various marketing tools that allow affiliates to get the most of their marketing efforts. The Tradesmarter Affiliate Program, as well as the trading platform, is supported in 12 different languages. As a result, the Tradesmarter Affiliate Program is an excellent opportunity for online marketers who are looking for a way to capitalize on this evolution in financial trading.

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  • Thomson Reuters buys World-Check

Thomson Reuters has acquired London-based financial crime and corruption prevention specialist World-Check. Financial terms of the deal were not disclosed. World-Check claims 49 of the world’s top 50 banks use its database of risky individuals and businesses to screen their customers, associates, transactions and employees. The firm, which employees around 500 people in 11 locations around the world, will continue to be led by current CEO anf romer Thomson alumni Dan Peak as part of Thomson Reuters’ governance, risk & compliance (GRC) business.


  • CME Group announced the launch of post-execution clearing services for over-the-counter (OTC) U.S. dollar/Chilean peso non-deliverable forwards (NDFs) through CME ClearPort.

“This is the first step in our broader initiative to provide clearing services for a wide range of FX products later this year,” said Craig LeVeille, CME Group’s Director of FX Products. “Chile has a strong economy generating large investment exposures to foreign assets. Local institutions can use our clearing service to mitigate the growing credit constraints they face when hedging currency risks, and this should lead to a boost in liquidity and an expansion in cross border activity.”


  • GO Markets announces expansion into Europe with new office in the Netherlands

The company’s new office, based in ‘s-hertogenbosch, the Netherlands, is the first of a planned expansion into the European market. The Netherlands office will allow GO Markets to provide an enhanced level of service to all clients, with the office itself providing a more local contact point to the company’s European client base.


  • Thomson Reuters unveils FX aggregation service

Thomson Reuters Dealing Aggregator addresses FX algorithmic execution and liquidity management requirements across multiple venues, providing sophisticated tools for management and analysis to FX traders. The growing market in aggregation and algorithmic trading has seen significant adoption of the platform, across the global, regional and buy-side client base of Thomson Reuters.


  • Wells Fargo to buy Bank of Ireland’s forex unit

Wells Fargo & Co. will acquire the U.S.-based operations of Foreign Currency Exchange Corp. from the Bank of Ireland Group. The unit is based in Orlando and provides wholesale foreign-currency conversion to 140 U.S. banks. Financial terms of the acquisition were not disclosed. The deal is slated to close in summer.


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